9
Dec
Posted by Tingyu

Consumers have the world at their fingertips today and loans are no different – an online loan application can be done in a matter of minutes, from anywhere at any time. However, as simple and convenient as the process is, a personal loan will only be granted when the applicant has satisfied the bank that they meet all necessary criteria, said Neil Thompson, head of product and customer value proposition at African Bank. “If you meet the requirements the money…

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2
Dec
Posted by Tingyu

The utility of credit cards is no longer restricted to making payments and accessing quick credit. They also come with attractive offers and benefits on card transactions, which if used smartly, can significantly reduce your transaction costs. However, these very benefits and instant credit access entice those without the financial discipline to spend beyond their means. This leads them to delay or default their bill repayments. If not tended sooner, the outstanding grows rapidly due to steep finance charge and…

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25
Nov
Posted by Tingyu

Personal loans are one of the most expensive categories of loans you can avail of. These are unsecured loans that can be easily availed of and banks are eager to offer them. In fact, you might have received a few calls offering instant personal loan because you have been a loyal customer to your bank. However, if you opt for a personal loan, expect to pay an interest rate of anywhere between 9% and 20% per annum. The reason is…

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18
Nov
Posted by Tingyu

Most people who consolidate debt with a personal loan see their credit score go up -- here's why. Can a personal loan raise your credit score? Several personal finance experts have said that it can, but now we have proof. Credit bureau and consumer finance company TransUnion recently released a new study at the 2019 Money20/20 conference that examined consumers who used a personal loan to consolidate credit card debt. For 68% of those customers, the study found that their…

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11
Nov
Posted by Tingyu

Some financial terms are so similar that they end up being used interchangeably. But that doesn’t mean they’re the exact same thing. One especially common mix-up: the difference between cosigners and guarantors, who are both people who can help you get a loan if your individual financial history isn’t strong enough. Let’s break it down: a cosigner agrees to be responsible for a loan if the primary borrower has trouble paying it back. It’s typical for people with young credit histories or those repairing…

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4
Nov
Posted by Tingyu

For those who are trying to find a strong foothold in the real estate business, you’ve probably come across the idea of hard money lenders before. Also known as private lenders, these men and women have had somewhat shady reputation over the last few years. A few bad cases have put a black spot on the business for many, but this does not mean you should be avoiding them in the same way you avoid white after Labor Day. In…

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28
Oct
Posted by Tingyu

A personal loan is an unsecured loan offered by banks and non-banking financial companies (NBFCs). These are unsecured because a borrower is not required to pledge any asset—property, jewelry or car—to get the loan. For this reason, personal loans come with a higher interest rate compared with secured loans, such as a home or car loan. A personal loan comes in handy in case of a financial emergency as you can borrow the required amount in 12-48 hours from an…

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21
Oct
Posted by Tingyu

Taking out a personal loan for the wrong reasons could come back to haunt you in more ways than one. When you're strapped for cash, a personal loan seems appealing. You don't have to put up any collateral and you can use the money for just about anything you want. Even individuals with poor credit might be approved. But like all loans, personal loans have some drawbacks as well. Interest rates are typically higher than they are on secured loans…

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14
Oct
Posted by Tingyu

Loan against property fares better on most parameters; disbursal time is a drawback Personal loan and loan against property (LAP) are similar in nature as they come without any restriction on the end-use of the loan proceeds. You are free to use the loan amount to finance your home renovation, child’s education/marriage, business expansion, overseas travel or any other personal requirement, except for speculative purposes. As both the loan types serve the same purpose, many borrowers face a dilemma when…

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7
Oct
Posted by Tingyu

SINGAPORE - Property firm Capital World has inked a $5.5 million convertible loan agreement with two individual investors, it said in a bourse filing on Thursday night (Oct 3). The Catalist-listed firm took the loan to repay an outstanding convertible bonds subscription agreement. After deducting expenses, it will have net proceeds of about $5.1 million. The loan - from Chong Thim Pheng and Ong King Sin - is for a period of a year with an annual 15 per cent…

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